ECONOMY

UK firm acquires industrial business park in Bucharest

BUCHAREST (SeeNews) – UK property development and investment company Helios Properties said yesterday it had acquired an industrial business park in the Romanian capital for an undisclosed sum and was looking for more investment opportunities in the city of Timisoara. «We signed the deal for Mercury Logistic Park on December 16. In our opinion, Mercury Logistic Park is the best area around Bucharest for logistics; it is on the A1 highway which links Bucharest with the rest of Europe,» Helios Properties main board director, Trevor Cartner, told SeeNews. The built-up area of the park will be around 90,000 square meters. «There will be about six or seven buildings, depending on the final arrangement. We have finished the first one, we are about to start the second that will be finished in about September this year, and the overall park will be finished by end-2007,» Cartner said. The first building has already been rented by Romanian retailer Minimax. Helios Properties is also looking at several projects in and around Timisoara, western Romania. «We will definitely be doing another logistic park there but we will also be looking at other type of development, residential and hotel developments,» Cartner said.